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'CAC' pid='51667' datel Wrote:
jft310 So much for the dry hole talk.
*******
I expected to see $65 today. This is good news, correct? (at least compared to the alternative). Up less than a dollar on a whopping 55,000 shares traded? Let's be honest for a second....nobody, except for exisiting shareholders who are emotionally invested (including me), seems to care about this stock. I know many on this board are frustrated by MikesIOC and his constant calls for them to sell the company but it would at least create shareholder value. That never seems to come with any of the other supposed "catalysts". I waited 4 years for the "transformative deal'". When it came, the pps got slaughtered. Then it was..."yeah, but wait for drilling results". Okay, we got some today. Nothing definitive perhaps...but not a dry hole either...generally "good". And the pps does nothing. No increased volume even.
How many "next events" are going to come and go and leave us unfulfiled? Can anybody say with confidence that a favorable arbitration ruling will move the pps...or that good Wahoo results (if we are lucky enough for that to occur) a year from now will definitely make the pps rise? Noooobody cares about this stock. It is very frustrating.
Thank the shorts, they're alive and well
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I think there have been too many false starts for IOC. The PPS will recover. The odds that the string of pearls exist just got a LOT better.
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'trans' pid='51668' datel Wrote:
'CAC' pid='51667' datel Wrote:
jft310 So much for the dry hole talk.
*******
I expected to see $65 today. This is good news, correct? (at least compared to the alternative). Up less than a dollar on a whopping 55,000 shares traded? Let's be honest for a second....nobody, except for exisiting shareholders who are emotionally invested (including me), seems to care about this stock. I know many on this board are frustrated by MikesIOC and his constant calls for them to sell the company but it would at least create shareholder value. That never seems to come with any of the other supposed "catalysts". I waited 4 years for the "transformative deal'". When it came, the pps got slaughtered. Then it was..."yeah, but wait for drilling results". Okay, we got some today. Nothing definitive perhaps...but not a dry hole either...generally "good". And the pps does nothing. No increased volume even.
How many "next events" are going to come and go and leave us unfulfiled? Can anybody say with confidence that a favorable arbitration ruling will move the pps...or that good Wahoo results (if we are lucky enough for that to occur) a year from now will definitely make the pps rise? Noooobody cares about this stock. It is very frustrating.
Thank the shorts, they're alive and well
***********
Is that the case or is it more of a lack of interest? If tthe news created lots of new buyers, and those new buyers were just being offset by lots of shorting, wouldn't the volume be way up?
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"The Raptor-1 well has been drilled to a measured depth of 4,032 metres below the rig rotary table. The flow test is being conducted over an interval of around 330 metres of open borehole which includes around 200 metres of Kapau limestone, the target reservoir."
Very interesting! We look forward to Pet's take on the PR. Have they drilled through the Kapau limestone and 130 meters into the formation below? Is Raptor a different kind of critter than Antelope?
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This is not shorting, its lack of buying. While the SB coverage is a feather in their cap, how that research recommendation gets translated by thier institutional sale folks and presented to instituitonal managers is the key. IOC still suffers from a lack of credibilty in a wide swath of the buy side community. I won't go through why as that's been covered by many here but it still exists. I am not sure what turns that tide. Sometimes it happens when least expected. More coverage helps, but execution and hitting deadlines is what works over time. While Raptor may not immediately add much value from a financial modelling point of view, I do believe exploration success will build credibility and I think the delays, for whatever reasons this year, hurt them on this issue. Arbitration getting settled will also help as well. I think those doing the work won't wait for detailed confirmation from the certification wells to place their bets but will probably wait until other risks are removed or diminished, such as exploration and arbiitration.
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'Li'loilady' pid='51632' d Wrote:
Raptor-1 Flares Gas and Condensate on Test
November 6, 2014
Singapore and Port Moresby — InterOil Corporation (NYSE: IOC) (POMSoX: IOC) today announced that gas and condensate have been recorded at surface and directed through the flare at the Raptor-1 exploration well site.
InterOil is continuing to test Raptor-1 and clean up the well.
The Raptor-1 well has been drilled to a measured depth of 4,032 metres below the rig rotary table. The flow test is being conducted over an interval of around 330 metres of open borehole which includes around 200 metres of Kapau limestone, the target reservoir.
The Raptor-1 well in PPL 475 is about 12km west of InterOil’s multi-trillion cubic feet Elk-Antelope gas field in the Gulf Province in Papua New Guinea.
InterOil holds a 65.208174% interest in Raptor-1 and is operator. Pacific Rubiales Energy Corp. (TSX  RE; BVC REC; BOVESPA REB) has a 12.903226% interest in the well and minority interests hold 21.8886%.
InterOil will keep the market informed of material developments.
Another non-communicating PR. These type PR’s are making me paranoid. It makes me think they have something they don’t want to tell us.
So what did we learn?
1. The top of the pay zone contains gas and condensate. So it is NOT oil.
2. They are testing a 330 meter (1,083 ft) OPEN HOLE interval. This is quite a long open hole interval to be testing so they must feel that the formation is quite stable. They will have the packer set in the bottom of the 7” casing above the long open hole section and probably a long tail pipe below the packer to facilitate killing the well when the test is completed.
3. I will speculate that we have low porosity and low flow rate or they would have given us more information. I think they have not lost circulation yet which would indicate a high permeability zone. If we had even one high permeability zone, fractures or otherwise, the well would not be “still cleaning up” . It would clean up very quickly indeed if we had a zone like the upper part of Antelope. They may have had to stimulate the open hole section with acid in order to establish flow.
4. They say the hole has been drilled to a depth of 4,032 meters (13,229 ft). In March they said the well would be drilled to a depth of 4,500 meters (14,765 ft). The top of the open hole section is at 3,702 meters (4,032 - 330). This means we could have as much as an additional 470 meters of limestone below the present TD. So an unanswered question is: Did they set the 7” casing 130 meters above the top of the pay zone or did they only find 200 meters of pay and drill 130 meters below the bottom of the pay zone?
My guess is they set the casing too high and they were still drilling in limestone when they quit drilling. If that is the case they will have the option of drilling ahead after the test if they do not recover any water. There is always the possibility that we could drill into a more porous zone as we drill deeper. Until we find water or the bottom of the limestone we will be expanding the size of the discovery as we drill deeper. And if we do not find water by the time we reach the bottom of the limestone the gas interval will be extending further down dip toward PRL-15.
5. I hesitate to mention the map they showed at http://tinyurl.com/m32z6ho page 20 since the depths on the map are so much different than the current report. However, as you can see on the map, there may be some structure up dip from Raptor-1 that is now known to be filled with gas.
6. It is possible that we drilled the wrong location and the up dip location to the northwest is where the best reef and the better porosity is located.
I wish I could be more optimistic for you but with the tea leaves presented this is the best I can do.
Have a good day!!
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11-07-2014, 02:27 AM
(This post was last modified: 11-07-2014, 02:31 AM by Getitrt2.)
The previous pr basically announced hydrocarbons, and the stock is up 13 points from the lows in a horrible market for E&P stocks. We need more definitive information on what they've found to really be new information, which I am sure will be forthcoming.
I do not think it will take a "year" to complete Wahoo, and it would not surprise me for it to be the most important of the three.
If nobody cared about this stock, it wouldn't have the holders it has, and Bernstein would not be escorting institutional clients to Singapore and PNG. I also think it should be higher already, but I guess becoming more widely known, evaluated, and trusted is going to be a gradual process.
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'petrengr1' pid='51674' datel Wrote:
[quote='Li'loilady' pid='51632' dateline='1415266591']
So what did we learn?
1. The top of the pay zone contains gas and condensate. So it is NOT oil.
Please pardon my ignorance, but I was under the impression that a good well would first deliver gas, on top of condensates, under which there must have at one time been oil. How wrong am I?
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'SamAdams' pid='51673' datel Wrote:
This is not shorting, its lack of buying. While the SB coverage is a feather in their cap, how that research recommendation gets translated by thier institutional sale folks and presented to instituitonal managers is the key. IOC still suffers from a lack of credibilty in a wide swath of the buy side community. I won't go through why as that's been covered by many here but it still exists. I am not sure what turns that tide. Sometimes it happens when least expected. More coverage helps, but execution and hitting deadlines is what works over time. While Raptor may not immediately add much value from a financial modelling point of view, I do believe exploration success will build credibility and I think the delays, for whatever reasons this year, hurt them on this issue. Arbitration getting settled will also help as well. I think those doing the work won't wait for detailed confirmation from the certification wells to place their bets but will probably wait until other risks are removed or diminished, such as exploration and arbiitration.
disagree, I track the numbers....the shorts are active and have been. they blunt what buying that is going on
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You miss the point. It was not that there is no shorting, but that there is nor real buying of the name by new, large institutional firms. Blaming the shorts, whatever the impact, takes the foucs off what's important here. I doubt with the stock up $0.64 and 111k shares traded the short are keeping a lid on a stock that should be at $60? Makes no sense. If there was real buying volumes would be much higher. I think IOC as a short must be well down the list for most serious shorts at this juncture.
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